Chinese President Xi Jinping called on the G20 countries to be more open and compliant with regard to central bank digital currencies (CBDCs).
At Saturday's G20 online meeting, he spokeon the sound development of the global economy after the COVID-19 pandemic. In the context of the speech, the President of China said that, using an open and accommodative approach, the meeting participants need to discuss the development of standards and principles for central bank digital currencies, as well as measures to counter all potential risks and problems, while striving tothis is to the joint development of the international monetary system.
China is currently actively implementingblockchain technologies into the public sector and is leading the development of a payment system based on the national digital currency. According to forecasts by investment bank Goldman Sachs, in 10 years the digital yuan will account for 15% of all electronic payments in the world.
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